Given the Following Information, Calculate the Firm's Stockturn Rate A) 7
B) 10
C) 3
D) 6
E) Cannot

Multiple Choice

Given the following information, calculate the firm's stockturn rate. $$\begin{array} { l c } \text { Net sales } & \$ 480,000 \\\text { Gross margin \% } & 50 \% \\\text { Average inventory at cost } & \$ 40,000\end{array}$$

A) 7
B) 10
C) 3
D) 6
E) Cannot be determined from data given.